Updated Oct 29, 2024
CIBC Provides $147.2M Construction Loan For Development Site In Chicago
1200 West Roosevelt Road
$147,150,000
Building Size
—
Asset Type
Development Site
Closing
Jan 23, 2023
About this deal
AI
The development site located at 1200 West Roosevelt Road in Chicago has recently secured a construction loan. The loan, provided by CIBC and BMO Harris, is worth $147,150,000. This financing will support the development of the property.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $147,150,000
- Lender: CIBC - Shawn Beber; BMO Harris
- Loan Type: Construction Loan
- Market: Chicago
- Date: 01/23/2023
The construction loan was facilitated by Shawn Beber, representing CIBC. Alongside CIBC, BMO Harris also participated in the loan. This financing will provide the necessary funds for the development of the property located at 1200 West Roosevelt Road in Chicago.
Players
Chicago Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93